UAE Minister: Trade between China and Arab states to reach worth 300b dollars by 2014

YINCHUAN, China: Trade between Arab states and China will witness major leap in the coming years as a result of the increasing economic, investment and commercial cooperation between the two sides, predicted UAE minister of Foreign Trade Sheikha Lubna Bint Khalid Al Qasimi.

“We are confident of our ability to achieve our common aspirations for increasing the volume of trade exchange to reach USD 300 billion during the next two years”, she said addressing the 3rd China-Arab States Economic and Trade Forum, that opened on Wednesday in the capital of Ningxia province, Yinchuan.

The United Arab Emirates has been selected as the guest country of honor in the event. Sheikha Lubna heads the official UAE delegation to the Forum.

The bilateral trade relations between Arab countries and China has made a quantum leap during the past few years, offering promising opportunities to further promote joint investment and economic cooperation. The Arab world now ranks seventh in the list of major trading partners of China, Sheikha Lubna noted.

At the forum, a national pavilion of UAE has also been set up, and a friendly soccer match between China and UAE will be held on Wednesday evening.